Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Up 23.7% in December

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 129,400 shares, a growth of 23.7% from the November 30th total of 104,600 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Separately, Maxim Group reduced their price objective on shares of Tenon Medical from $22.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 15th.

Tenon Medical Stock Performance

NASDAQ:TNON opened at $1.91 on Tuesday. Tenon Medical has a 52-week low of $1.67 and a 52-week high of $15.79. The business’s fifty day moving average is $2.69 and its 200 day moving average is $2.16. The firm has a market cap of $5.99 million, a price-to-earnings ratio of -0.07 and a beta of 1.91.

About Tenon Medical

Tenon Medical, Inc, a medical device company, engages in the development of surgical implant systems to treat severe lower back pain in the United States and Puerto Rico. The company offers CATAMARAN SI-Joint Fusion System to fuse sacroiliac joints (SI-Joints) to treat SI-Joint dysfunction that often causes severe lower back pain; and features fixation device that passes through the axial and sagittal planes of the ilium and sacrum, as well as transfixes the SI joints.